1. INTRODUCTION
1.1. This Advance Product Schedule sets out the terms and conditions applicable to the Advance Line, the Advance Account, Advance Card and Advance Payout (each as defined below, and together, the “Advance Services”), and are supplemental to and form part of the Master Services Agreement for Advance Product and Aspire FT’s Master Services Agreement. Please read this document carefully together with the Master Service Agreement for Advance Product and Aspire FT’s Master Services Agreement.

1.2. The parties to this Advance Product Schedule are:
(i) the Customer (as defined below);
(ii) AFTSG (as the relevant entity extending the Advance Line and providing the Advance Account to the Customer, and as defined below); and
(iii) Aspire (as the platform provider and relevant entity providing the Aspire Account, Advance Card and Advance Payouts to the Customer).

1.3. The Customer accepts the terms and conditions of this Advance Product Schedule when it applies for, retains or uses, or allows a Cardholder to retain or use, the Advance Line, the Advance Account and/or the Advance Card.

1.4. Changes to this Advance Product Schedule.
1.4.1. Each of Aspire and AFTSG may amend, supplement, delete and/or revise any part of this Advance Product Schedule at any time by posting a revised version on Aspire’s and AFTSG’s website or by other means as Aspire or AFTSG may decide in their sole discretion. Where appropriate, Aspire and/or AFTSG may give you notice of any such changes to this Advance Product Schedule, and such changes shall take effect on the date specified in the notice.
1.4.2. If you do not agree to the revised terms, you have the option to terminate the Advance Line and the Advance Card, and close your Advance Account. The Customer's or the Cardholder's continued use of the Advance Line, the Advance Account and/or the Advance Card after any such changes take effect shall constitute consent and acceptance of this Advance Product Schedule (as may be revised from time to time).
1.4.3. In some circumstances, we may change this Advance Product Schedule immediately. Notwithstanding Clause 1.4.1, changes to this Advance Product Schedule which are (1) more favourable to you; (2) required by law or regulation; (3) related to the extra functionality to the existing Advance Services; or (4) changes which neither reduce your rights nor increase your responsibilities, will come into effect immediately.

1.5. Consumer advisory: Aspire is currently exempted from holding a licence under the Payment Services Act for the provision of Account Issuance Service, Domestic Money Transfer Service, and E-money Issuance Service for a specified period. This can be confirmed on the MAS website here. AFTSG is an exempt moneylender under the Moneylenders Act of Singapore.

1.6. Capitalised terms used in this Advance Product Schedule but not defined have the meanings given in the Master Service Agreement for Advance Product.

2. KYC ASSESSMENT
2.1. Before activating the Advance Product, AFTSG shall (either directly or through its affiliates) conduct additional Know Your Customer ("KYC") checks on the Customer to assess their credit worthiness.
2.2. The Customer agrees that for the purpose of KYC, Aspire will share the relevant KYC documentation with AFTSG to analyse and assess the Customer's capabilities to receive the Advance Line. The Customer further agrees and consents to AFTSG sharing the KYC documentation to third party service providers, such as credit bureau, specifically for KYC purposes.
2.3. Once the KYC process has been successfully approved, the Customer will receive the Advance Line by AFTSG through the Platform.
2.4. AFTSG may require the Customer to provide such collateral as may be accepted by AFTSG from time to itme (the “Collateral”) for the purpose of availing the Advance Line to the Customer. If the value of the Collateral drops, AFTSG may require the Customer to top up the Collateral within a prescribed period and/or reduce the Customer’s Advance Line limit accordingly.
2.5. AFTSG reserves its rights to approve or reject the Customer.

3. ADVANCE LINE
3.1. AFTSG shall extend the Customer with an Advance Line subject to successful completion of KYC verification procedures. The Advance Line may be utilised through:
3.1.1. an Advance Card, which shall be the default access method; and
3.1.2. Advance Payouts, which shall be subject to additional approval requirements prescribed from time to time. Fees and additional requirements may apply to the use of the Advance Line through Advance Payouts.
3.2. AFTSG grants the limit of the Advance Line at its sole discretion and AFTSG reserves the sole right to at any time:
3.2.1. modify the limit of the Advance Line;
3.2.2. suspend or terminate the Advance Line;
3.2.3. impose additional terms and conditions; and
3.2.4. review and adjust the Advance Line limit and terms from time to time.
3.3. The Customer acknowledges that AFTSG has appointed Aspire as its service provider for the Advance Card and Advance Payout capabilities through the Platform and account management services. Aspire will act in accordance with AFTSG’s instructions in relation to the Advance Line.
3.4. The Customer acknowledges that all rights and obligations under the Advance Account and/or Advance Line shall remain between AFTSG and the Customer only.

4. ADVANCE ACCOUNT
4.1. Once the KYC process has been completed and approved by AFTSG, AFTSG shall open an Advance Account for the Customer. A total limit will be prescribed for the Advance Account (“the Advance Account Limit”) based on the Advance Line provided by AFTSG.
4.2. The Advance Account shall only be used for transactions made using the Advance Card and Advance Payout services.
4.3. The use of the Advance Card and Advance Payout services shall be subject to the terms under the Card Product Schedule and the Payments & FX Product Schedule.
4.4. In the event AFTSG cancels the Advance Line for any reason, the Advance Account Limit will be reduced to zero accordingly and all Cardholders will not be allowed to make any further transactions on any Advance Card or any Advance Payouts.
4.5. Aspire and/or AFTSG may prescribe transaction amount limits on the Advance Card and/or on Advance Payouts ("Single Transaction Limit") and may vary the Single Transaction Limit from time to time without notice to the Customer or Cardholder.
4.6. The Cardholder may carry out an Advance Card transaction or Advance Payout, as the case may be, only if:
a. the transaction amount will not result in the available Advance Account Limit being exceeded; and
b. the transaction amount does not exceed the Single Transaction Limit.

5. ADVANCE CARD
5.1. The Customer acknowledges that the issuer of the Advance Card is either Aspire or a third party and agrees to the terms of Aspire (which include the Card Product Schedule) and the third party (as the case may be) which apply to the use of the Advance Card.
5.2. The Customer acknowledges that the Advance Card is a debit card that is exclusively funded by the Advance Account.

6. CUSTOMER'S RESPONSIBILITIES
6.1. The Customer shall be liable for and shall pay AFTSG on demand the balance due to AFTSG on the Advance Account, including all Advance Payouts and all charges effected or debited to the Advance Account in accordance with this Advance Product Schedule or any other agreement between the Customer (whether alone or jointly with any other person or persons) and Aspire and/or AFTSG.

6.2. The Customer will be issued an Advance Account Statement by Aspire (as service provider of AFTSG) which sets out the Customer’s transactions for the relevant billing cycle.

6.3. Amounts due under each Advance Account Statement will be presented in the currency of the Advance Account Limit.

6.4. In respect of each Advance Account Statement, the Customer shall pay by the payment due date stated in that Advance Account Statement the amount stated therein. Payments shall be:
a. made to such payment account(s)/wallet(s) as specified in the Advance Account Statement or such other account(s) as AFTSG may notify the Customer from time to time; and/or
b. if the Customer so elects, deducted directly from the Customer's Multi-currency Account to the extent there are available funds.

6.5. If by the payment due date of that Advance Account Statement, the Customer fails to make full repayment of the amount stated therein:
a. the Customer shall be liable to AFTSG for:
(i) a Finance Charge, levied on a monthly basis, on the entire outstanding balance from the payment due date of that Advance Account Statement until full payment of the outstanding balance is made; and
(ii) a late payment charge of USD50 (or its equivalent in other currencies);
b. AFTSG and/or Aspire shall be entitled to decline to authorise or approve any transactions effected or proposed to be effected by the use of the Advance Card; and
c. AFTSG shall be entitled to suspend or cancel the Advance Line without prior notice to the Customer or Cardholder.
d. AFTSG shall be entitled to liquidate the Collateral immediately to satisfy any liability owing to it by the Customer.

7. FOREIGN CURRENCY TRANSACTIONS
7.1. Advance Payouts may be made, and the Advance Card may be used for transactions that are denominated, in a currency other than the currency denomination of the Advance Account Limit ("Foreign Currency").

7.2. If the Cardholder or the Customer initiates a Foreign Currency transaction, the Customer agrees that the terms under Aspire’sCards Product Schedule and Payments & FX Product Schedule in relation to Foreign Currency transaction shall apply.

7.3. The Cardmember and/or the Customer, acknowledge and accept all risks and charges involved in making such Foreign Currency transactions, whether arising from differing currency conversion rates and practices, or otherwise from market fluctuations.

8. LIEN AND SET-OFF
8.1. The Customer hereby grants AFTSG a continuing lien over the Multi-currency Account and any other accounts maintained by the Customer with Aspire.

8.2. The Customer agrees that, for the purposes of discharging any amount payable by the Customer under each Advance Account Statement and/or this Advance Product Schedule, Aspire is authorized by the Customer, to upon request by AFTSG, debit the relevant amount due or any part thereof from the Multi-currency Account and transfer such amount to AFTSG;

8.3. The Customer agrees that in addition to any lien, right of set-off or other right which AFTSG may have, AFTSG may in its absolute discretion at any time and without prior demand or notice to the Customer, instruct Aspire to combine or consolidate any and all account(s) maintained by the Customer with Aspire and/or set-off or transfer any sum standing to the credit of any or all such account(s) in or towards the discharge or payment of any and all liabilities (whether actual or contingent, several or joint) to AFTSG from the Customer on any other account.

8.4. AFTSG shall be entitled to exercise this right notwithstanding that the balance due to AFTSG on any account is not overdue and/or the use of the Advance Card or the Advance Account has not been closed or terminated and/or the credit balances on such accounts and the liabilities on any other accounts may not be expressed in the same currency.

8.5. AFTSG can use any payments from the Customer however it chooses, regardless of how the Customer intended the payment to be used.

8.6. Aspire hereby acknowledges and agrees to the lien and set-off rights granted to AFTSG under this Advance Product Schedule and agrees to facilitate the exercise of such rights by AFTSG when required.

9. CANCELLATION AND TERMINATION
9.1. AFTSG (in respect of the Advance Account and Advance Line) and/or Aspire (in respect of the Advance Card) may cancel, suspend or terminate the Advance Account, the Advance Line and/or the Advance Card at any time without having to give any reason or notice to the Customer or Cardholder and/or in accordance with the terms of Aspire’s Master Service Agreement and/or the Master Service Agreement for Advance Product.

9.2. The Customer acknowledges and agrees that when the Customer’s Aspire Account is terminated or suspended, AFTSG may at its sole discretion suspend or end all Advance Services.

9.3. The Customer may terminate this Advance Product Schedule and the Advance Account by giving Aspire and AFTSG at least 30 days’ written notice. Upon the termination of the Advance Account (whether by the Customer or Aspire or AFTSG):
a. all Advance Cards will be cancelled;
b. any accrued liabilities and obligations under this Advance Product Schedule will remain continuing;
c. the Customer shall pay AFTSG on demand all unpaid amounts charged to the Advance Account (including all Advance Payouts, and all expenditures made on all Advance Cards) as may be specified by AFTSG in the demand and until payment in full is made, AFTSG shall be entitled to levy (i) a monthly Finance Charge calculated on the entire balance due and (ii) a late payment charge of USD50 (or its equivalent in other currencies); and
d. the Customer shall procure that all physical Advance Cards are cut up

9.4. The rights conferred on Aspire and AFTSG under this Advance Product Schedule shall survive terminatio

10. DEFINITIONS AND INTERPRETATION

In this Advance Product Schedule:

"Advance Account" means the account in respect of the Advance Line that AFTSG extends to the Customer.

“Advance Account Limit” has the meaning given in Clause 4.1.

"Advance Account Statement" means any invoice, debit note or statement issued by or on behalf of AFTSG in respect of the Advance Account setting out, among other things, the amount payable, the payment due date and the payment account details

"Advance Card" means the corporate debit card, virtual or physical, either issued directly by Aspire or powered and issued by a third party and any substitution, replacement or renewal thereof that is exclusively funded by the Advance Account.

"Advance Line" means the advance line that AFTSG may extend to the Customer from time to time, in such amount and currency and on such terms and subject to such conditions as AFTSG may determine in its sole discretion.

"Advance Payout" means a transfer of such amount of the available Advance Account Limit or any part thereof to such recipient as may be requested by the Customer;

"Advance Payout Fee" refers to the fee applicable to any Advance Payout, the calculation of which shall be determined by factors such as the creditworthiness of the Customer, the percentage of collateral provided by the Customer, or any other variables decided by AFTSG at their sole discretion from time to time;

“Advance Services” has the meaning given in Clause 1.1.

"AFTSG" means A.F.T. SG Pte. Ltd. (formerly known as Aspire Financial Technologies Pte. Ltd.), its successors and assigns;

“Aspire” means Aspire FT Pte Ltd;

"Cardholder" means the person to whom the Advance Card is issued on the application or request of the Customer;

“Card Product Schedule” means the cards product terms and conditions published by Aspire which can be accessed here.

"Customer" means the corporation, firm or entity which is the applicant for the Advance Line, Advance Account, and/or any Advance Card.

"Finance Charge" means, in relation to any outstanding amount due, 2.5% on such amount;

“Foreign Currency” has the meaning given in Clause 6.1.

"Multi-currency Account" has the meaning given in the Payments & FX Product Schedule published by Aspire.

"Network" means a major national or international network or association such as American Express, Mastercard, Visa, RuPay, JCB, Discover, UnionPay or any other global or local network or association that Aspire and/or relevant third parties may work with from time to time to enable the use of the Advance Card.

“Payments & FX Product Schedule” means the payments and foreign exchange product terms and conditions which can be accessed here.

“Single Transaction Limit” has the meaning given in Clause 4.5.